Please note no more posts will be made on this blog from 7/7/11.
We now have a Currency News section on our main site, which will be updated with currency news and reports ongoing.
Please click here to visit the main Currency Index news page.
Thursday 7 July 2011
Tuesday 5 July 2011
Service sector grows as Euro retail sales fall
We have seen a slight improvement in exchange rates this morning, as UK services growth showed a slight increase beyond analysts' expectations.
Along with weaker Euro retail sales data, this has given sterling a small boost against the Euro and most other currencies this morning.
However, alongside other data in the last week showing poor performances in manufacturing and construction, it looks as though Britain's recovery failed to gain momentum in the second quarter.
Along with weaker Euro retail sales data, this has given sterling a small boost against the Euro and most other currencies this morning.
However, alongside other data in the last week showing poor performances in manufacturing and construction, it looks as though Britain's recovery failed to gain momentum in the second quarter.
Monday 4 July 2011
This week's currency news
The first full week of the month is always busy with data releases, and July is no exception.
The main news due out for those of you buying or selling Euros is likely to be Thursday's Eurozone interest rate decision. The ECB are widely tipped to increase the base rate to 1.5%, which markets have been pricing in over recent weeks giving a stronger (more expensive) Euro. The UK interest rate decision on the same day is very likely to be 'no change'.
In the USA, we have a holiday today for Independence Day, and will wait until Friday for the main data of the week, non-farm payrolls which is the main monthly indicator of the health of the US jobs market and can cause volatility in the dollar.
In general sterling remains vulnerable and until we see some improvements in confidence and the outlook in the UK, we don't expect any major upward movement for the Pound.
Monday 4th
US Bank Holiday
0815 - Swiss retail sales
0930 - UK manufacturing
Tuesday 5th
0530 - Australian interest rate decision
0930 - UK services
1000 - Eurozone retail sales
1500 - US factory orders
Wednesday 6th
1000 - Eurozone GDP
1100 - German factory orders
2345 - New Zealand GDP
Thursday 7th
0230 - Australian unemployment
0930 - UK industrial & manufacturing production
1200 - UK interest rate decision
1245 - Eurozone interest rate decision
Friday 8th
0645 - Swiss unemployment rate
0930 - UK PPI inflation
1200 - Canadian unemployment rate
1330 - US non-farm payrolls
The main news due out for those of you buying or selling Euros is likely to be Thursday's Eurozone interest rate decision. The ECB are widely tipped to increase the base rate to 1.5%, which markets have been pricing in over recent weeks giving a stronger (more expensive) Euro. The UK interest rate decision on the same day is very likely to be 'no change'.
In the USA, we have a holiday today for Independence Day, and will wait until Friday for the main data of the week, non-farm payrolls which is the main monthly indicator of the health of the US jobs market and can cause volatility in the dollar.
In general sterling remains vulnerable and until we see some improvements in confidence and the outlook in the UK, we don't expect any major upward movement for the Pound.
Monday 4th
US Bank Holiday
0815 - Swiss retail sales
0930 - UK manufacturing
Tuesday 5th
0530 - Australian interest rate decision
0930 - UK services
1000 - Eurozone retail sales
1500 - US factory orders
Wednesday 6th
1000 - Eurozone GDP
1100 - German factory orders
2345 - New Zealand GDP
Thursday 7th
0230 - Australian unemployment
0930 - UK industrial & manufacturing production
1200 - UK interest rate decision
1245 - Eurozone interest rate decision
Friday 8th
0645 - Swiss unemployment rate
0930 - UK PPI inflation
1200 - Canadian unemployment rate
1330 - US non-farm payrolls
Tuesday 28 June 2011
GDP as expected
This morning's final revision to UK Q1 GDP showed 'no change' to the previous reading of 0.5% growth in the 3 months to March.
Those of you following exchange rates for sending money abroad will have been hoping for better news to turn around the Pound's recent decline.
With house price and mortgage data still to come this week, further losses could be on the cards unless there is some (unlikely) positive news.
Those of you following exchange rates for sending money abroad will have been hoping for better news to turn around the Pound's recent decline.
With house price and mortgage data still to come this week, further losses could be on the cards unless there is some (unlikely) positive news.
Monday 27 June 2011
Currency news this week
As we near the end of June, a quiet week ahead for economic data, with the notable exception of UK GDP released tomorrow morning at 9.30am. This is the final revision of economic growth in the first quarter of 2011, and one of the main measures which influences markets' views on the UK economy - therefore any revision to the previous figures is likely to have an immediate impact on sterling.
Don't forget that next week the European Central Bank are likely to raise their interest rates too, which could well give the Euro strength, reducing rates for buying Euros. We also have the ongoing Greek crisis with votes due on austerity measures, and the prospect of UK strikes later in the week unlikely to help the Pound's cause either.
Monday 27th
1330 - US personal income & expenditure
Tuesday 28th
0930 - UK GDP & business investment
1500 - US consumer confidence
Wednesday 29th
0930 - UK mortgage approvals
1000 - Eurozone consumer confidence
1200 - Canadian CPI inflation
Overnight - UK consumer confidence
Thursday 30th
0700 - German retail sales
0855 - German unemployment
1000 - Eurozone CPI inflation
1330 - Canadian GDP
Friday 1st
1500 - US construction spending
Don't forget that next week the European Central Bank are likely to raise their interest rates too, which could well give the Euro strength, reducing rates for buying Euros. We also have the ongoing Greek crisis with votes due on austerity measures, and the prospect of UK strikes later in the week unlikely to help the Pound's cause either.
Monday 27th
1330 - US personal income & expenditure
Tuesday 28th
0930 - UK GDP & business investment
1500 - US consumer confidence
Wednesday 29th
0930 - UK mortgage approvals
1000 - Eurozone consumer confidence
1200 - Canadian CPI inflation
Overnight - UK consumer confidence
Thursday 30th
0700 - German retail sales
0855 - German unemployment
1000 - Eurozone CPI inflation
1330 - Canadian GDP
Friday 1st
1500 - US construction spending
Wednesday 22 June 2011
Bank of England votes 7-2 as Greece survives vote
The Bank of England has revealed its interest-rate setting committee voted 7-2 to keep interest rates on hold in June.
New member Ben Broadbent voted for no change, replacing ex-member Andrew Sentance who was a supporter of higher interest rates.
In a blow for the Pound, interest rate rises this year are now seen as even less likely, causing the value of sterling to fall this morning.
In Greece, the government has also passed a vote of confidence ahead of proposed austerity measures and another ECB/IMF bailout, adding strength to the Euro and decreasing exchange rates further for those of you sending money to Europe.
New member Ben Broadbent voted for no change, replacing ex-member Andrew Sentance who was a supporter of higher interest rates.
In a blow for the Pound, interest rate rises this year are now seen as even less likely, causing the value of sterling to fall this morning.
In Greece, the government has also passed a vote of confidence ahead of proposed austerity measures and another ECB/IMF bailout, adding strength to the Euro and decreasing exchange rates further for those of you sending money to Europe.
Monday 20 June 2011
This week's currency news
This week's main news for the Pound is likely to be Wednesday's Bank of England Minutes, which will show the split in the vote to keep interest rates on hold earlier this month. With a new committee member, Ben Broadbent, voting for the first time, there may be some change from the 6-3 split seen in the last few months.
With ongoing severe debt problems in Greece, planned public sector strikes in the UK next week, and lots of other economic news due out around the world, there could be volatility in the currency markets.
Monday 20th
0700 - German PPI inflation
Tuesday 21st
0230 - Australian interest rate minutes
0930 - UK public sector net borrowing
1000 - Eurozone & German ZEW sentiment survey
1330 - Canadian retail sales
1500 - US home sales
2345 - New Zealand current account
Wednesday 22nd
0930 - Bank of England minutes
1000 - Eurozone industrial orders
1500 - Eurozone consumer confidence
1730 - US interest rate decision
Thursday 23rd
0715 - Swiss trade balance
0900 - Eurozone manufacturing & services inflation
0930 - UK mortgage approvals
Friday 24th
1330 - US GDP
With ongoing severe debt problems in Greece, planned public sector strikes in the UK next week, and lots of other economic news due out around the world, there could be volatility in the currency markets.
Monday 20th
0700 - German PPI inflation
Tuesday 21st
0230 - Australian interest rate minutes
0930 - UK public sector net borrowing
1000 - Eurozone & German ZEW sentiment survey
1330 - Canadian retail sales
1500 - US home sales
2345 - New Zealand current account
Wednesday 22nd
0930 - Bank of England minutes
1000 - Eurozone industrial orders
1500 - Eurozone consumer confidence
1730 - US interest rate decision
Thursday 23rd
0715 - Swiss trade balance
0900 - Eurozone manufacturing & services inflation
0930 - UK mortgage approvals
Friday 24th
1330 - US GDP
Thursday 16 June 2011
Retail sales fall 1.4%
May's disappointing retail sales figures, showing a 1.4% drop in May, have held sterling back this morning.
High street activity was expected to fall after April's spike due to the royal wedding and run of bank holidays, but the decline was much more than expected.
We have now had all major UK data for the week, although for those of you tracking Euro rates we have the ECB monthly report and Eurozone trade balance due out tomorrow morning.
High street activity was expected to fall after April's spike due to the royal wedding and run of bank holidays, but the decline was much more than expected.
We have now had all major UK data for the week, although for those of you tracking Euro rates we have the ECB monthly report and Eurozone trade balance due out tomorrow morning.
Wednesday 15 June 2011
Mixed bag for unemployment
Unemployment figures this morning showed a drop of 88,000 in the 3 months to April, the biggest fall since 2000, with the jobless total now 2.43m.
However, the number of jobseekers' allowance claimants rose by 19,600 to 1.4m, the biggest rise since July 2009.
Earnings growth also fell.
Given the mixed data, the Pound intially fell but has since recovered against the Euro, although is losing ground against the US Dollar. Call us at Currency Index for the latest live rates.
However, the number of jobseekers' allowance claimants rose by 19,600 to 1.4m, the biggest rise since July 2009.
Earnings growth also fell.
Given the mixed data, the Pound intially fell but has since recovered against the Euro, although is losing ground against the US Dollar. Call us at Currency Index for the latest live rates.
Tuesday 14 June 2011
UK inflation stays at 4.5%
Sterling has fallen back this morning after inflation figures showed 'no change' in May at 4.5%.
High inflation has been one of the main arguments for raising UK interest rates, and the Bank of England expects inflation to go up further throughout the summer. This morning's figures were lower than expected, and coupled with Halifax's announcement this morning that May house prices were 4.2% lower than a year ago, the Pound has started to lose value again.
High inflation has been one of the main arguments for raising UK interest rates, and the Bank of England expects inflation to go up further throughout the summer. This morning's figures were lower than expected, and coupled with Halifax's announcement this morning that May house prices were 4.2% lower than a year ago, the Pound has started to lose value again.
Monday 13 June 2011
Currency news this week
This week's economic calendar is below, and in the UK we have 3 main releases: inflation, unemployment and retail sales, at 9.30 each morning from Tuesday to Thursday.
Each of these has the potential to impact the value of sterling.
Retail sales & inflation are also due out in the USA, and inflation in Europe, so we could see some volatility this week in GBP-EUR and GBP-USD. Call Currency Index on 0800 043 2623 for the latest rates and news.
Monday 13th
No major data
Tuesday 14th
Overnight - UK consumer confidence & RICS house price balance
0930 - UK inflation (RPI & CPI)
1330 - US retail sales
2345 - New Zealand retail sales
Wednesday 15th
0930 - UK unemployment rate
1000 - Eurozone industrial production
1330 - US inflation (CPI)
Thursday 16th
0830 - Swiss interest rate decision
0930 - UK retail sales
1000 - Eurozone inflation (CPI)
Friday 17th
0900 - ECB monthly report
1000 - Eurozone trade balance
Each of these has the potential to impact the value of sterling.
Retail sales & inflation are also due out in the USA, and inflation in Europe, so we could see some volatility this week in GBP-EUR and GBP-USD. Call Currency Index on 0800 043 2623 for the latest rates and news.
Monday 13th
No major data
Tuesday 14th
Overnight - UK consumer confidence & RICS house price balance
0930 - UK inflation (RPI & CPI)
1330 - US retail sales
2345 - New Zealand retail sales
Wednesday 15th
0930 - UK unemployment rate
1000 - Eurozone industrial production
1330 - US inflation (CPI)
Thursday 16th
0830 - Swiss interest rate decision
0930 - UK retail sales
1000 - Eurozone inflation (CPI)
Friday 17th
0900 - ECB monthly report
1000 - Eurozone trade balance
Thursday 9 June 2011
Europe and UK keep interest rates on hold
Both today's interest rate decisions, in the UK and Eurozone, were 'no change' as expected. The Bank of England is widely tipped to keep interest rates on hold until late 2011, while the European Central Bank may raise rates further in the summer.
European Central Bank Trichet, in the accompanying press conference, again states "strong vigilance" was warranted, which is taken to mean that European interest rates could well be increased to stave off inflation over the summer.
Higher interest rates tend to make a currency more expensive, so the cost of exchanging sterling to Euros might be likely to increase if analysts start to 'price in' Eurozone interest rate rises before we see any in the UK.
For further analysis please see Reuters or call us at Currency Index (0800 043 2623) for the latest views and live rates.
European Central Bank Trichet, in the accompanying press conference, again states "strong vigilance" was warranted, which is taken to mean that European interest rates could well be increased to stave off inflation over the summer.
Higher interest rates tend to make a currency more expensive, so the cost of exchanging sterling to Euros might be likely to increase if analysts start to 'price in' Eurozone interest rate rises before we see any in the UK.
For further analysis please see Reuters or call us at Currency Index (0800 043 2623) for the latest views and live rates.
Sunday 5 June 2011
This week's currency news
This week sees the monthly round of interest rate decisions in the UK, Europe, New Zealand and Australia. Rates are expected to remain on hold in the UK for several more months, so any other currencies where interest rates start to rise further will probably gain momentum, leaving their currencies more expensive.
We also have the UK trade balance out on Thursday, but little else to potentially give the Pound a boost. Releases due out around the world are listed below.
Monday 6th
1000 - Eurozone PPI inflation
Tuesday 7th
0530 - Australian interest rate decision
1000 - Eurozone retail sales
Wednesday 8th
1000 - Eurozone GDP
2200 - New Zealand interest rate decision
Thursday 9th
0230 - Australian unemployment rate
0930 - UK trade balance
1200 - UK interest rate decision
1245 - Eurozone interest rate decision
1330 - US trade balance
Friday 10th
0930 - UK industrial & production manufacturing
1200 - Canadian unemployment rate
1530 - UK GDP estimate
We also have the UK trade balance out on Thursday, but little else to potentially give the Pound a boost. Releases due out around the world are listed below.
Monday 6th
1000 - Eurozone PPI inflation
Tuesday 7th
0530 - Australian interest rate decision
1000 - Eurozone retail sales
Wednesday 8th
1000 - Eurozone GDP
2200 - New Zealand interest rate decision
Thursday 9th
0230 - Australian unemployment rate
0930 - UK trade balance
1200 - UK interest rate decision
1245 - Eurozone interest rate decision
1330 - US trade balance
Friday 10th
0930 - UK industrial & production manufacturing
1200 - Canadian unemployment rate
1530 - UK GDP estimate
Wednesday 1 June 2011
Manufacturing, mortgages and money supply all fall
Sterling fell this morning on 3 worse-than-expected data releases in the UK. Mortgage approvals fell to 45,000 in April, signalling more problems in the housing market, while manufacturing growth fell and the measure of money supply in the economy was also below expectations.
There is not much else due out this week in terms of UK data, so the Pound may struggle to recover much ground. Exchange rates fell nearly a cent against the Euro and US Dollar this morning.
There is not much else due out this week in terms of UK data, so the Pound may struggle to recover much ground. Exchange rates fell nearly a cent against the Euro and US Dollar this morning.
Tuesday 31 May 2011
Currency news this week
After the long weekend we have a mixed bag of news releases scheduled this week, with the only main UK figures being mortgage approvals and services & manufacturing growth.
There are various other pieces of news due around the world, with the details below of anything likely to affect exchange rates in each country. Contact us at Currency Index for the latest news and live rates.
Monday 30th
1330 - Canadian GDP
Tuesday 31st
0200 - New Zealand business confidence
0230 - Australian current account
0645 - Swiss GDP
0700 - German retail sales
0855 - German unemployment rate
1000 - Eurozone CPI inflation & unemployment rate
1400 - Canadian interest rate decision
Wednesday 1st
0230 - Australian GDP
0930 - UK mortgage approvals & PMI manufacturing
Thursday 2nd
0230 - Australian trade balance
1500 - US factory orders
Friday 3rd
0930 - UK PMI services
1330 - US unemployment rate & non-farm payrolls
There are various other pieces of news due around the world, with the details below of anything likely to affect exchange rates in each country. Contact us at Currency Index for the latest news and live rates.
Monday 30th
1330 - Canadian GDP
Tuesday 31st
0200 - New Zealand business confidence
0230 - Australian current account
0645 - Swiss GDP
0700 - German retail sales
0855 - German unemployment rate
1000 - Eurozone CPI inflation & unemployment rate
1400 - Canadian interest rate decision
Wednesday 1st
0230 - Australian GDP
0930 - UK mortgage approvals & PMI manufacturing
Thursday 2nd
0230 - Australian trade balance
1500 - US factory orders
Friday 3rd
0930 - UK PMI services
1330 - US unemployment rate & non-farm payrolls
Wednesday 25 May 2011
GDP unchanged
This morning's revision to the first quarter UK GDP showed no change from the 0.5% first estimate, meaning the UK economy had not grown at all in the 6 months to the end of March.
While a downward revision would have caused trouble for the Pound, there has been little impact from the figures this morning, although we have seen rates for buying USD spike up by nearly 0.5c
While a downward revision would have caused trouble for the Pound, there has been little impact from the figures this morning, although we have seen rates for buying USD spike up by nearly 0.5c
Tuesday 24 May 2011
UK public borrowing hits record high
This morning's public borrowing figures showed the worst April on record with a net public borrowing figure of £7.71bn. Analysts had expected a figure nearer £4bn, so fears have grown that the UK economy is still far from a sustainable road to recovery.
The Pound fell sharply on the news, and now tomorrow's GDP revision is even more critical, as any further disappointing data will be likely to weigh strongly on sterling. The GDP revision is published at 9.30am tomorrow.
The Pound fell sharply on the news, and now tomorrow's GDP revision is even more critical, as any further disappointing data will be likely to weigh strongly on sterling. The GDP revision is published at 9.30am tomorrow.
Monday 23 May 2011
Currency news this week
This week's main news will be Wednesday's adjustment to UK GDP. Any improvement on the previous estimate of 0.5% growth in Q1 will likely be positive for the Pound, while any revision downwards would have a negative effect on sterling.
Monday 23rd
0900 - Eurozone manufacturing & services PMI
Tuesday 24th
0400 - New Zealand inflation report
0700 - German GDP
0930 - UK public borrowing
1500 - US home sales
Wednesday 25th
0930 - UK GDP
1330 - US durable goods orders
Thursday 26th
0715 - Swiss trade balance
1020 - Speech: European Central Bank President Trichet
Friday 27th
Overnight - UK consumer confidence
1330 - US personal income & expenditure
Monday 23rd
0900 - Eurozone manufacturing & services PMI
Tuesday 24th
0400 - New Zealand inflation report
0700 - German GDP
0930 - UK public borrowing
1500 - US home sales
Wednesday 25th
0930 - UK GDP
1330 - US durable goods orders
Thursday 26th
0715 - Swiss trade balance
1020 - Speech: European Central Bank President Trichet
Friday 27th
Overnight - UK consumer confidence
1330 - US personal income & expenditure
Thursday 19 May 2011
Retail sales better than expected
This morning's UK retail sales figures were better than expected, showing a 2.8% increase in the 12 months to April.
Sterling found some strength this morning, and combined with weak US manufacturing numbers this afternoon, has recovered nearly a cent against the US Dollar.
Unfortunately the Euro had a rally of its own during the afternoon, leaving rates for buying Euros back where they started at the beginning of the day.
With little important data out tomorrow (except in Canada), we are not expecting any improvements in the outloook for sterling this week.
Sterling found some strength this morning, and combined with weak US manufacturing numbers this afternoon, has recovered nearly a cent against the US Dollar.
Unfortunately the Euro had a rally of its own during the afternoon, leaving rates for buying Euros back where they started at the beginning of the day.
With little important data out tomorrow (except in Canada), we are not expecting any improvements in the outloook for sterling this week.
Wednesday 18 May 2011
Unemployment falls, but so does Pound
Sterling has fallen across the board this morning, despite figures showing a slight fall in unemployment to 2.46m at the end of March. The official rate is now 7.7%.
Meanwhile the Bank of England minutes showed that the MPC voted 6-3 in favour of keeping interest rates on hold in May. This was as expected, although the minutes revealed that 2 of the members who did vote for an interest rate rise are not entirely convinced that the policy would be on the right path.
Interest rate rises would be a major factor in increasing the value of the Pound and therefore would be good news if you need to make international payments. The fact that the committee is even less committed to a rate rise than was previously thought, is the reason behind the fall in the Pound this morning.
Meanwhile the Bank of England minutes showed that the MPC voted 6-3 in favour of keeping interest rates on hold in May. This was as expected, although the minutes revealed that 2 of the members who did vote for an interest rate rise are not entirely convinced that the policy would be on the right path.
Interest rate rises would be a major factor in increasing the value of the Pound and therefore would be good news if you need to make international payments. The fact that the committee is even less committed to a rate rise than was previously thought, is the reason behind the fall in the Pound this morning.
Tuesday 17 May 2011
Inflation reaches 2.5 year high, sterling rises
The Pound has risen this morning after inflation figures showed a 4.5% rise in prices in the year to April. This was higher than analysts expected, adding to recent expectations that the Bank of England will have to raise interest rates in the next 6 months.
Sterling spiked up sharply on the news, but has fallen back a little since, as we look to tomorrow's Bank of England minutes to see how the committee voted on interest rates earlier this month.
Sterling spiked up sharply on the news, but has fallen back a little since, as we look to tomorrow's Bank of England minutes to see how the committee voted on interest rates earlier this month.
Monday 16 May 2011
Currency news this week
This week we have inflation, Bank of England minutes and retail sales released in the UK on Tuesday, Wednesday and Thursday, so the Pound could be in for a volatile week. Whatever currency you need to buy or sell, contact Currency Index for the latest news and live rates.
Monday 16th
1000 - Eurozone trade balance & CPI inflation
1400 - Speech: Federal Reserve Chairman Bernanke
Tuesday 17th
0230 - Australian interest rate decision minutes
0930 - UK CPI & RPI inflation
1000 - German ZEW survey
1330 - US building permits & housing starts
2345 - New Zealand PPI inflation
Wednesday 18th
0930 - Bank of England interest rate decision minutes
Thursday 19th
0930 - UK retail sales
1400 - Speech: European Central Bank President Trichet
1500 - US existing home sales
Friday 20th
1200 - Canadian CPI inflation
1500 - Eurozone consumer confidence
Monday 16th
1000 - Eurozone trade balance & CPI inflation
1400 - Speech: Federal Reserve Chairman Bernanke
Tuesday 17th
0230 - Australian interest rate decision minutes
0930 - UK CPI & RPI inflation
1000 - German ZEW survey
1330 - US building permits & housing starts
2345 - New Zealand PPI inflation
Wednesday 18th
0930 - Bank of England interest rate decision minutes
Thursday 19th
0930 - UK retail sales
1400 - Speech: European Central Bank President Trichet
1500 - US existing home sales
Friday 20th
1200 - Canadian CPI inflation
1500 - Eurozone consumer confidence
Thursday 12 May 2011
Inflation report sends Pound higher
Yesterday's Bank of England inflation report signalled that UK interest rates may yet go up this year (around November), which has given sterling some strength despite the downbeat growth prospects.
The Pound has gained around 4c against the Euro in the last week.
The Pound has gained around 4c against the Euro in the last week.
Monday 9 May 2011
Currency news this week
This week's most important data for the Pound is Wednesday's quarterly inflation report, where the Bank of England sets out projections for UK inflation, which in turn are a significant influence on its interest rate policy and therefore the value of the Pound.
Elswhere we are in for a quiet couple of days, until Thursday where there are a few releases likely to affect exchange rates.
Do contact us at Currency Index for the latest news and live rates for any currency transfers you need to make.
Monday 9th
No major data
Tuesday 10th
0815 - Swiss CPI inflation
1330 - US import price index
Wednesday 11th
0700 - German CPI inflation
1030 - Bank of England quarterly inflation report
1330 - US trade balance
Thursday 12th
0230 - Australian unemployment rate
0900 - European Central Bank monthly report
0930 - UK manufacturing & industrial production
1330 - US retail sales, PPI inflation & jobless claims
1500 - UK GDP estimate
2345 - New Zealand retail sales
Friday 13th
0700 - German GDP
1000 - Eurozone GDP
1330 - US CPI inflation
Elswhere we are in for a quiet couple of days, until Thursday where there are a few releases likely to affect exchange rates.
Do contact us at Currency Index for the latest news and live rates for any currency transfers you need to make.
Monday 9th
No major data
Tuesday 10th
0815 - Swiss CPI inflation
1330 - US import price index
Wednesday 11th
0700 - German CPI inflation
1030 - Bank of England quarterly inflation report
1330 - US trade balance
Thursday 12th
0230 - Australian unemployment rate
0900 - European Central Bank monthly report
0930 - UK manufacturing & industrial production
1330 - US retail sales, PPI inflation & jobless claims
1500 - UK GDP estimate
2345 - New Zealand retail sales
Friday 13th
0700 - German GDP
1000 - Eurozone GDP
1330 - US CPI inflation
Thursday 5 May 2011
Bank of England and ECB both hold interest rates
Today's interest rate decisions saw the Bank of England and European Central Bank both keeping rates on hold.
Although the Bank of England are very unlikely to raise rates in the coming few months, the European policy makers may be raising rates sooner, which has led to Euro strength and worse exchange rates for sending money to Europe.
The ECB President, Jean-Claude Trichet, also indicated in his accompanying speech that European interest rates are unlikely to go up in June. The Euro has weakened off accordingly, giving exchange rates a 2c improvement during the course of the day.
We will have to wait another 2 weeks to find out the basis of the Bank of England's decision, when the Minutes are released.
Although the Bank of England are very unlikely to raise rates in the coming few months, the European policy makers may be raising rates sooner, which has led to Euro strength and worse exchange rates for sending money to Europe.
The ECB President, Jean-Claude Trichet, also indicated in his accompanying speech that European interest rates are unlikely to go up in June. The Euro has weakened off accordingly, giving exchange rates a 2c improvement during the course of the day.
We will have to wait another 2 weeks to find out the basis of the Bank of England's decision, when the Minutes are released.
Wednesday 4 May 2011
UK interest rates to remain low until 2013?
As we await tomorrow's interest rate decisions from the Bank of England and European Central Bank, an article which may be of interest discusses UK interest rates potentially remaining low well into 2012: http://uk.finance.yahoo.com/news/Why-afford-rate-rise-yahoofinanceuk-3340835426.html
Interest rate changes have a strong affect on exchange rates, to discuss your own situation and currency strategy please call us on 0800 043 2623
Interest rate changes have a strong affect on exchange rates, to discuss your own situation and currency strategy please call us on 0800 043 2623
Monday 2 May 2011
Currency calendar this week
This week sees interest rate decisions in the UK, Eurozone and Australia; and unemployment, retail sales and house price figures all coming out around the world.
Of the interest rate decisions, the Eurozone will be watched most closely by markets, as any further rate hikes would be likely to strengthen the Euro and send exchange rates lower for buying Euros. European inflation is running high, so interest rates should rise further, however with concerns about the impact on weaker economies such as Spain, Portugal and Ireland, the decision is not an easy one for the ECB.
Call us at Currency Index for the latest news and live rates.
Monday 2nd
UK Bank Holiday
Tuesday 3rd
0530 - Australian interest rate decision
1000 - Eurozone PPI inflation
1500 - US factory orders
Wednesday 4th
0730 - Nationwide UK house price survey
0930 - UK mortgage approvals & money supply
1000 - Eurozone retail sales
2345 - New Zealand unemployment rate
Thursday 5th
1200 - UK interest rate decision
1245 - Eurozone interest rate decision
Friday 6th
0230 - Australian monetary policy statement
0930 - UK PPI inflation
1200 - Canadian unemployment rate
1330 - US non-farm payrolls & unemployment rate
Of the interest rate decisions, the Eurozone will be watched most closely by markets, as any further rate hikes would be likely to strengthen the Euro and send exchange rates lower for buying Euros. European inflation is running high, so interest rates should rise further, however with concerns about the impact on weaker economies such as Spain, Portugal and Ireland, the decision is not an easy one for the ECB.
Call us at Currency Index for the latest news and live rates.
Monday 2nd
UK Bank Holiday
Tuesday 3rd
0530 - Australian interest rate decision
1000 - Eurozone PPI inflation
1500 - US factory orders
Wednesday 4th
0730 - Nationwide UK house price survey
0930 - UK mortgage approvals & money supply
1000 - Eurozone retail sales
2345 - New Zealand unemployment rate
Thursday 5th
1200 - UK interest rate decision
1245 - Eurozone interest rate decision
Friday 6th
0230 - Australian monetary policy statement
0930 - UK PPI inflation
1200 - Canadian unemployment rate
1330 - US non-farm payrolls & unemployment rate
Wednesday 27 April 2011
Economy grows by 0.5% in first quarter
This morning's GDP figures showed a 0.5% growth in the UK economy in the first 3 months of 2011.
The growth cancels out the contraction seen at the end of 2010, but means the UK economy has effectively not grown in 6 months.
While the numbers are nothing exciting in terms of the recovery, some analysts expected worse, so the Pound has taken a little strength from the news, gaining around a cent against both the USD and Euro.
Rates for buying US Dollars are now at their best since November 2009.
The growth cancels out the contraction seen at the end of 2010, but means the UK economy has effectively not grown in 6 months.
While the numbers are nothing exciting in terms of the recovery, some analysts expected worse, so the Pound has taken a little strength from the news, gaining around a cent against both the USD and Euro.
Rates for buying US Dollars are now at their best since November 2009.
Tuesday 26 April 2011
Currency news this week
Although we have a short week, there is important data out around the world likely to affect exchange rates. Particularly tomorrow we have the Q1 GDP figures for economic growth in the UK which is the main indicator of recovery for the economy.
Elsewhere we have news due out from the USA, Eurozone and Canada, New Zealand and Australia - whichever currency you are looking to buy or sell, contact Currency Index for the latest news and commercial exchange rates.
Tuesday 26th
1500 - US consumer confidence
Wednesday 27th
0230 - Australian CPI inflation
0700 - German consumer confidence
0930 - UK GDP
1730 - US interest rate decision
1915 - Speech: Federal Reserve chairman Bernanke
2200 - New Zealand interest rate decision
Thursday 28th
0855 - German unemployment rate
1330 - US GDP
2345 - New Zealand trade balance
Friday 29th
UK Bank Holiday
1000 - Eurozone economic & consumer confidence and unemployment rate
1330 - Canadian GDP
Elsewhere we have news due out from the USA, Eurozone and Canada, New Zealand and Australia - whichever currency you are looking to buy or sell, contact Currency Index for the latest news and commercial exchange rates.
Tuesday 26th
1500 - US consumer confidence
Wednesday 27th
0230 - Australian CPI inflation
0700 - German consumer confidence
0930 - UK GDP
1730 - US interest rate decision
1915 - Speech: Federal Reserve chairman Bernanke
2200 - New Zealand interest rate decision
Thursday 28th
0855 - German unemployment rate
1330 - US GDP
2345 - New Zealand trade balance
Friday 29th
UK Bank Holiday
1000 - Eurozone economic & consumer confidence and unemployment rate
1330 - Canadian GDP
Tuesday 19 April 2011
Currency Index bank holiday opening times
With Easter and the royal wedding coming up, Currency Index will be open at the following times. While many markets around the world will be closed over Easter, don’t forget that the bank holiday next Friday 29th only affects the UK, and therefore currency markets will still be active.
Monday 18th - Wednesday 20th: 9.00am - 5.30pm
Thursday 21st: 9.00am - 5.00pm
Friday 22nd - Monday 25th: CLOSED (Easter)
Tuesday 26th & Wednesday 27th: 9.00am to 5.30pm
Thursday 28th: 9.00am to 5.00pm
Friday 29th to Monday 2nd: CLOSED (Royal Wedding & May bank holiday)
Tuesday 3rd Onwards: as normal
Please call us on 0800 043 2623 (+44 1923 725725) if you have payments to make over the bank holiday periods.
Monday 18th - Wednesday 20th: 9.00am - 5.30pm
Thursday 21st: 9.00am - 5.00pm
Friday 22nd - Monday 25th: CLOSED (Easter)
Tuesday 26th & Wednesday 27th: 9.00am to 5.30pm
Thursday 28th: 9.00am to 5.00pm
Friday 29th to Monday 2nd: CLOSED (Royal Wedding & May bank holiday)
Tuesday 3rd Onwards: as normal
Please call us on 0800 043 2623 (+44 1923 725725) if you have payments to make over the bank holiday periods.
Monday 18 April 2011
Economic calendar this week
This week's 2 main events for the UK economy, and therefore the Pound, are Wednesday's Bank of England minutes (where we will find out how many of the 9-strong monetary policy committee voted for an interest rate rise this month) and Thursday's retail sales and public borrowing figures.
It looks like the Bank of England are now unlikely to raise interest rates in the coming few months, which has been sending sterling lower against most major currencies.
Monday 18th
1500 - Eurozone consumer confidence
Tuesday 19th
0230 - Australian interest rate minutes
0900 - Eurozone current account & purchasing inflation
1200 - Canadian CPI inflation
Wednesday 20th
0700 - German PPI inflation
0930 - Bank of England minutes
1500 - US existing home sales
Thursday 21st
0930 - UK retail sales, public borrowing & mortgage approvals
1330 - Canadian retail sales & US jobless claims
1500 - US house price index
Friday 22nd
Good Friday - bank holiday
It looks like the Bank of England are now unlikely to raise interest rates in the coming few months, which has been sending sterling lower against most major currencies.
Monday 18th
1500 - Eurozone consumer confidence
Tuesday 19th
0230 - Australian interest rate minutes
0900 - Eurozone current account & purchasing inflation
1200 - Canadian CPI inflation
Wednesday 20th
0700 - German PPI inflation
0930 - Bank of England minutes
1500 - US existing home sales
Thursday 21st
0930 - UK retail sales, public borrowing & mortgage approvals
1330 - Canadian retail sales & US jobless claims
1500 - US house price index
Friday 22nd
Good Friday - bank holiday
Thursday 14 April 2011
UK unemployment falls... slightly
Sterling's tumble against the Euro has taken a pause for the last 24 hours, after UK unemployment figures were slightly better than expected yesterday morning.
Tomorrow we have important data in Europe and the USA, although nothing due out in the UK. Eurozone inflation figures are out at 10am, and in the States the same figures are announced at 12.30pm. Both are likely to influence monetary policy, and therefore exchagne rates for buying both Euros and Dollars.
Tomorrow we have important data in Europe and the USA, although nothing due out in the UK. Eurozone inflation figures are out at 10am, and in the States the same figures are announced at 12.30pm. Both are likely to influence monetary policy, and therefore exchagne rates for buying both Euros and Dollars.
Tuesday 12 April 2011
Inflation falls - and takes Pound with it
The UK's headline inflation rate has fallen from 4.4% to 4% - making interest rate rises less likely and causing losses for sterling in FX markets.
The Pound has lost around a cent against both the Euro and US Dollar.
Tomorrow we have unemployment figures at 9.30am.
The Pound has lost around a cent against both the Euro and US Dollar.
Tomorrow we have unemployment figures at 9.30am.
Monday 11 April 2011
Currency news this week
A busy week ahead, which those of you sending money abroad will hope can give sterling some strength. The Pound has been stuck between a weaker US Dollar and stronger Euro for the last 2 weeks, with rates for buying USD now looking very healthy, while Euro rates are at their worst since October and still falling.
Tuesday is the busiest day for UK data this week, with the trade balance and key inflation data both released at 9.30am.
Monday 11th
UK: RICS house price balance; BRC retail sales monitor
Tuesday 12th
0700 - German CPI inflation
0930 - UK trade balance, RPI & CPI inflation
1000 - Eurozone & German ZEW economic sentiment surveys
1330 - US trade balace & import price index
1400 - Canadian interest rate decision
1900 - US budget statement
Wednesday 13th
0930 - UK unemployment rate & claimant count
1330 - US retail sales
1530 - Canadian monetary policy report
Thursday 14th
G20 meeting
0900 - Eurozone monthly budget report
1330 - US PPI inflation & jobless claims
Friday 15th
G20 meeting
1000 - Eurozone trade balance & CPI inflation
1330 - US CPI inflation
Tuesday is the busiest day for UK data this week, with the trade balance and key inflation data both released at 9.30am.
Monday 11th
UK: RICS house price balance; BRC retail sales monitor
Tuesday 12th
0700 - German CPI inflation
0930 - UK trade balance, RPI & CPI inflation
1000 - Eurozone & German ZEW economic sentiment surveys
1330 - US trade balace & import price index
1400 - Canadian interest rate decision
1900 - US budget statement
Wednesday 13th
0930 - UK unemployment rate & claimant count
1330 - US retail sales
1530 - Canadian monetary policy report
Thursday 14th
G20 meeting
0900 - Eurozone monthly budget report
1330 - US PPI inflation & jobless claims
Friday 15th
G20 meeting
1000 - Eurozone trade balance & CPI inflation
1330 - US CPI inflation
Friday 8 April 2011
US Dollar rate reaches new highs
The weakening US Dollar has given us near the best exchange rates since the end of 2009 today, for anybody sending money to the USA.
The Euro continues to strenghten, despite the Portuguese bailout plans, which won't necessarily give us better EUR rates. When the Greek economy was bailed out last year, the Euro actually became more expensive, as these moves are seen as a sign of unity and strength in the Eurozone.
The Pound is also vulnerable to European problems, due to the UK's exposure to Eurozone banks and institutions.
The Euro continues to strenghten, despite the Portuguese bailout plans, which won't necessarily give us better EUR rates. When the Greek economy was bailed out last year, the Euro actually became more expensive, as these moves are seen as a sign of unity and strength in the Eurozone.
The Pound is also vulnerable to European problems, due to the UK's exposure to Eurozone banks and institutions.
Thursday 7 April 2011
Eurozone raise interest rates, as Bank of England holds on
The European Central Bank has today raised interest rates in the single currency zone, for the first time since July 2008, to 1.25%. The Bank of England in its own meeting today, has kept UK interest rates on hold at 0.5%.
The ECB's move was generally expected, and had been 'priced in' in advance to give a stronger (more expensive) Euro over the last couple of weeks. ECB President Trichet will now give a press conference explaining the move, while we will have to wait 2 weeks to discover how close the Bank of England came to raising UK rates today too.
Interest rates are a key driver of exchange rates, so to discuss the implications on your own transaction, contact us at Currency Index.
The ECB's move was generally expected, and had been 'priced in' in advance to give a stronger (more expensive) Euro over the last couple of weeks. ECB President Trichet will now give a press conference explaining the move, while we will have to wait 2 weeks to discover how close the Bank of England came to raising UK rates today too.
Interest rates are a key driver of exchange rates, so to discuss the implications on your own transaction, contact us at Currency Index.
Monday 4 April 2011
Currency news this week
This week's main economic news releases are the interest rate decisions in the UK and Eurozone on Thursday lunchtime. We expect the UK rate to remain unchanged at 0.5%, while the ECB may well raise rates to 1.25%. Speculation of a rate hike in Europe has led to the Euro gaining strength against sterling, giving worse exchange rates for buying Euros.
If you are looking to buy or sell Euros in the near future, contact Currency Index for the latest news. As Thursday approaches we may see some volatility and chances to buy or sell at preferential rates.
Monday 4th
0930 - UK construction PMI (Mar)
1000 - Eurozone PPI inflation (Feb)
Tuesday 5th
0015 - Speech: Ben Bernanke (US Federal Reserve Chairman)
0230 - Australian trade balance (Feb)
0530 - Australian interest rate decision
0930 - UK services PMI (Mar)
1000 - Eurozone retail sales (Feb)
1900 - Federal Reserve interest rate minutes
Wednesday 6th
0930 - UK industrial & manufacturing production (Feb)
1000 - Eurozone GDP (Q4 2010)
1500 - UK GDP estimate
Thursday 7th
0230 - Australian unemployment (Mar)
1200 - Bank of England interest rate decision
1245 - Eurozone interest rate decision
Friday 8th
0645 - Swiss unemployment (Mar)
0700 - German trade balance (Feb)
1200 - Canadian unemployment (Mar)
If you are looking to buy or sell Euros in the near future, contact Currency Index for the latest news. As Thursday approaches we may see some volatility and chances to buy or sell at preferential rates.
Monday 4th
0930 - UK construction PMI (Mar)
1000 - Eurozone PPI inflation (Feb)
Tuesday 5th
0015 - Speech: Ben Bernanke (US Federal Reserve Chairman)
0230 - Australian trade balance (Feb)
0530 - Australian interest rate decision
0930 - UK services PMI (Mar)
1000 - Eurozone retail sales (Feb)
1900 - Federal Reserve interest rate minutes
Wednesday 6th
0930 - UK industrial & manufacturing production (Feb)
1000 - Eurozone GDP (Q4 2010)
1500 - UK GDP estimate
Thursday 7th
0230 - Australian unemployment (Mar)
1200 - Bank of England interest rate decision
1245 - Eurozone interest rate decision
Friday 8th
0645 - Swiss unemployment (Mar)
0700 - German trade balance (Feb)
1200 - Canadian unemployment (Mar)
Friday 1 April 2011
US employment figures boost dollar
Today's US 'non-farm payroll' figures - the main monthly measure of new jobs in the USA - came out better than expected at 216,000.
The American unemployment rate also dropped slightly to 8.8%.
As both of these measures boost confidence in the US economy, the Dollar has gained strength (become more expensive), with the market rate now back below $1.60 against sterling.
The American unemployment rate also dropped slightly to 8.8%.
As both of these measures boost confidence in the US economy, the Dollar has gained strength (become more expensive), with the market rate now back below $1.60 against sterling.
Wednesday 30 March 2011
No good news for Pound
This week's lack of data releases has done nothing to help sterling, as speculation that the Eurozone interest rate could go up next week continues. In the absence of UK interest rate rises, the Eurozone base rate could leap further away, causing Euro strength and worse exchange rates for sending money to Europe from the UK.
If you have a requirement to send or receive foreign currency in the coming weeks, contact Currency Index who will be happy to keep you informed of the latest news and rates.
If you have a requirement to send or receive foreign currency in the coming weeks, contact Currency Index who will be happy to keep you informed of the latest news and rates.
Monday 28 March 2011
Currency calendar this week
This week we return to a little less important data as the month nears its end; although tomorrow's Q4 GDP revision in the UK is likely to be important. The Pound seems to have very little support at the moment, and fell significantly against most currencies last week.
Monday 28th
1230 - US consumption (Feb)
1600 - Speech: ECB President Trichet
2145 - New Zealand trade balance (Feb)
Tuesday 29th
0930 - UK mortgage approvals (Feb), net lending, business investment & GDP revision (Q4 2010)
1400 - US consumer confidence (Mar)
Wednesday 30th
1000 - Eurozone economic, industrial & consumer confidence (Mar)
Thursday 31st
0700 - German retail sales (Feb) & UK Nationwide house price index
0855 - German unemployment rate (Mar)
1330 - Canadian GDP (Jan)
Friday 1st
1000 - Eurozone unemployment rate (Feb)
1330 - US unemployment rate, average earnings & non-farm payrolls (Mar)
Monday 28th
1230 - US consumption (Feb)
1600 - Speech: ECB President Trichet
2145 - New Zealand trade balance (Feb)
Tuesday 29th
0930 - UK mortgage approvals (Feb), net lending, business investment & GDP revision (Q4 2010)
1400 - US consumer confidence (Mar)
Wednesday 30th
1000 - Eurozone economic, industrial & consumer confidence (Mar)
Thursday 31st
0700 - German retail sales (Feb) & UK Nationwide house price index
0855 - German unemployment rate (Mar)
1330 - Canadian GDP (Jan)
Friday 1st
1000 - Eurozone unemployment rate (Feb)
1330 - US unemployment rate, average earnings & non-farm payrolls (Mar)
Thursday 24 March 2011
Retail sales down
This morning's retail sales figures have troubled the Pound further after a drop yesterday - February's figures were down 0.8%, and only showed a 1.3% increase over the last 12 months compared to expectations of 2.4%.
Sterling seems to have very little support at the moment, and there is no more major UK data expected this week.
Sterling seems to have very little support at the moment, and there is no more major UK data expected this week.
Wednesday 23 March 2011
No change from Bank of England
The minutes of this month's Bank of England meeting on interest rates showed the same results as February's vote: 3 of the 9 committee members voted for an interest rate rise in the UK, with the remaining 6 voting for no change.
With inflation running high we may still see a rate rise in the coming months, but while growth is still fragile it looks like the Bank remains cautious. The Pound fell when the news was announced, as markets look to higher interest rates to boost the value of the currency.
Next, we have the Budget announcement at 12.30 today.
With inflation running high we may still see a rate rise in the coming months, but while growth is still fragile it looks like the Bank remains cautious. The Pound fell when the news was announced, as markets look to higher interest rates to boost the value of the currency.
Next, we have the Budget announcement at 12.30 today.
Tuesday 22 March 2011
UK inflation up to 4.4%
This morning's UK inflation figures have come out higher than expected, with the headline CPI rate now at 4.4%, up from 4% in January.
Retail prices, which include mortgage payments, are up 5.5% - the highest rate for 20 years.
Although this is not great news for consumers, it does mean that the Bank of England might be more likely to raise interest rates in the next few months, so the Pound tends to gain value in anticipation of interest rate rises. We have seen some small gains this morning against most major currencies, although with the Budget and Bank of England Minutes due out tomorrow, any gains may well be short lived.
Retail prices, which include mortgage payments, are up 5.5% - the highest rate for 20 years.
Although this is not great news for consumers, it does mean that the Bank of England might be more likely to raise interest rates in the next few months, so the Pound tends to gain value in anticipation of interest rate rises. We have seen some small gains this morning against most major currencies, although with the Budget and Bank of England Minutes due out tomorrow, any gains may well be short lived.
Monday 21 March 2011
Currency news this week
This week we have some crucial economic events in the UK - notably on Wednesday when the Chancellor releases ths budget at 1230, as well as the Bank of England minutes earlier in the morning. The UK's economic prospects and future interest rate policy will both be in the limelight, with immediate effects likely to weigh on the value of sterling.
Do keep in touch with your account manager at Currency Index to ensure you are not exposed to exchange rates moving against you during the week.
Monday 21st
Overnight - Rightmove house price index (March)
1400 - Speech: ECB President Trichet
1400 - US home sales (Feb)
Tuesday 22nd
0700 - Swiss trade balance (Feb)
0930 - UK inflation & public borrowing (Feb)
1230 - Canadian retail sales (Jan)
Wednesday 23rd
0930 - Bank of England minutes (Feb)
1230 - UK budget report
1400 - US new home sales (Feb)
2145 - New Zealand GDP (Q4 2010)
Thursday 24th
0930 - UK retail sales (Feb)
1230 - US durable goods sales (Feb) & jobless claims (Mar)
Friday 25th
EU economic summit
0900 - German business climate survey
Do keep in touch with your account manager at Currency Index to ensure you are not exposed to exchange rates moving against you during the week.
Monday 21st
Overnight - Rightmove house price index (March)
1400 - Speech: ECB President Trichet
1400 - US home sales (Feb)
Tuesday 22nd
0700 - Swiss trade balance (Feb)
0930 - UK inflation & public borrowing (Feb)
1230 - Canadian retail sales (Jan)
Wednesday 23rd
0930 - Bank of England minutes (Feb)
1230 - UK budget report
1400 - US new home sales (Feb)
2145 - New Zealand GDP (Q4 2010)
Thursday 24th
0930 - UK retail sales (Feb)
1230 - US durable goods sales (Feb) & jobless claims (Mar)
Friday 25th
EU economic summit
0900 - German business climate survey
Wednesday 16 March 2011
Jobless total rises
This morning's labour market statistics showed a rise of 27,000 in unemployment to 2.53million at the end of January - the highest total since 1996.
The number of people claiming jobseekers allowance, however, fell to 1.45million.
The jobless rate of 8% is also the highest since 1996.
The Pound has been largeley unaffected, although better figures would have been likely to improve the outlook for the UK and therefore the Pound.
The only other important news due in the UK this week is public sector borrowing, announced on Friday.
The number of people claiming jobseekers allowance, however, fell to 1.45million.
The jobless rate of 8% is also the highest since 1996.
The Pound has been largeley unaffected, although better figures would have been likely to improve the outlook for the UK and therefore the Pound.
The only other important news due in the UK this week is public sector borrowing, announced on Friday.
Monday 14 March 2011
This week's currency calendar
This week is relatively quiet for scheduled economic announcements, but the following all have the potential to move exchange rates. Contact Currency Index for the latest news and quotes.
Tuesday 15th:
1000 - German & Eurozone ZEW sentiment survey
1815 - US Federal Reserve interest rate decision
Wednesday 16th:
0930 - UK unemployment & average earnings (Jan)
1000 - Eurozone CPI inflation (Feb)
1230 - US PPI inflation (Feb)
Thursday 17th:
0830 - Swiss interest rate decision
1000 - Eurozone construction output (Jan)
1230 - US CPI inflation (Feb)
Friday 18th:
0930 - UK public borrowing (Feb) & mortgage approvals
1100 - Canadian CPI inflation (Feb)
Tuesday 15th:
1000 - German & Eurozone ZEW sentiment survey
1815 - US Federal Reserve interest rate decision
Wednesday 16th:
0930 - UK unemployment & average earnings (Jan)
1000 - Eurozone CPI inflation (Feb)
1230 - US PPI inflation (Feb)
Thursday 17th:
0830 - Swiss interest rate decision
1000 - Eurozone construction output (Jan)
1230 - US CPI inflation (Feb)
Friday 18th:
0930 - UK public borrowing (Feb) & mortgage approvals
1100 - Canadian CPI inflation (Feb)
Wednesday 9 March 2011
Trade balance narrows sharply in January
Figures out this morning showed the UK trade gap is at its narrowest level for nearly a year, down to £7bn in January from £9.7bn in December.
Although good news for the UK economy, the figures are relatively volatile, so it is too early to say whether we are seeing a longer-term rebalancing of trade.
Tomorrow is a crucial day for sterling, with GDP estimate, industrial & manufacturing production, and the Bank of England's interest rate decision all released throughout the day.
Although good news for the UK economy, the figures are relatively volatile, so it is too early to say whether we are seeing a longer-term rebalancing of trade.
Tomorrow is a crucial day for sterling, with GDP estimate, industrial & manufacturing production, and the Bank of England's interest rate decision all released throughout the day.
Tuesday 8 March 2011
Housing market stabilises, but retail sales fall
Today's 2 pieces of UK economic news were mixed - with RICS reporting some better stability in the housing market, but the British Retail Consortium showing the second weakest sales figures since May 2009.
The Pound remains vulnerable to any further negative news, with tomorrow's trade balance figures due at 9.30am.
The Pound remains vulnerable to any further negative news, with tomorrow's trade balance figures due at 9.30am.
Sunday 6 March 2011
Currency news this week
A busy week ahead, with the following data all with the potential to affect exchange rates:
Monday 7th
0930 - Eurozone investor confidence
1200 - Speech: ECB President Trichet
Tuesday 8th
Overnight - UK RICS house price balance
0030 - Australian business confidence
0645 - Swiss unemployment rate
1315 - Canadian housing starts
2330 - Australian consumer confidence
Wednesday 9th
0815 - Swiss CPI inflation
0930 - UK trade balance
1100 - German industrial production
2000 - New Zealand interest rate decision
Thursday 10th
0030 - Australian unemployment rate
0700 - German trade balance
0900 - European Central Bank monthly report
0930 - UK industrial & manufacturing production
1200 - UK interest rate decision
1330 - US trade balance
1900 - US monthly budget statement
Friday 11th
0700 - German CPI inflation
0930 - UK PPI inflation
1200 - Canadian unemployment rate
1330 - US retail sales
Monday 7th
0930 - Eurozone investor confidence
1200 - Speech: ECB President Trichet
Tuesday 8th
Overnight - UK RICS house price balance
0030 - Australian business confidence
0645 - Swiss unemployment rate
1315 - Canadian housing starts
2330 - Australian consumer confidence
Wednesday 9th
0815 - Swiss CPI inflation
0930 - UK trade balance
1100 - German industrial production
2000 - New Zealand interest rate decision
Thursday 10th
0030 - Australian unemployment rate
0700 - German trade balance
0900 - European Central Bank monthly report
0930 - UK industrial & manufacturing production
1200 - UK interest rate decision
1330 - US trade balance
1900 - US monthly budget statement
Friday 11th
0700 - German CPI inflation
0930 - UK PPI inflation
1200 - Canadian unemployment rate
1330 - US retail sales
Friday 4 March 2011
US labour market improves
The US Dollar has been gaining value this afternoon, after data showed unemployment down to 8.9% and 192,000 new jobs being created in February.
Rates for sending US Dollars are still excellent, but with this data and the uncertainty around the UK recovery, we may have seen rates peaking for the time being.
Rates for sending US Dollars are still excellent, but with this data and the uncertainty around the UK recovery, we may have seen rates peaking for the time being.
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